Jambo Brings Its Pay-Per-Call Collect(TM) Solution to Radio Using Bid4Spots' Online Reverse Auction for Remnant Airtime
|Pairing of Innovators in Local Search and Remnant Radio Gives Small and Mid-Size Companies Powerful Radio Advertising Solution -- No Matter What Size Budget|
“With Bid4Spots, radio stations compete for our ads and drive prices down. There's no better value for reaching consumers using radio -- and that makes it an efficient way for us to drive phone leads to businesses.”
Jambo (www.jambo.com), a leading provider of solutions that effectively connect people by phone to businesses represented in Internet search and traditional media, today announced that it has launched a test program using radio ads to drive phone leads to select categories of Pay-Per-Call Collect(TM) advertisers.
Jambo is buying radio airtime through Bid4Spots (www.bid4spots.com) -- an innovative new solution for buying and selling last-minute radio airtime (remnant radio) using the industry's only reverse auction format.
The convergence of the two companies' patent-pending technologies ushers in a new level of scale and frequency of message that small- to mid-sized advertisers can achieve -- critical factors in radio advertising success. Jambo's system captures and delivers to advertisers highly relevant phone leads from various media sources. Bid4Spots' reverse auctions for radio airtime allow radio stations to compete against each other for advertisers' dollars -- driving prices down and resulting in rates significantly lower than standard radio buys.
"What excites us about Pay-Per-Call Collect is that we connect consumers and businesses via the phone from online and traditional media -- vastly expanding current performance marketing opportunities for the local merchant. No matter where those leads are generated, Jambo will find and monetize them," said John Melideo, CEO of Jambo. "With Bid4Spots, radio stations compete for our ads and drive prices down. There's no better value for reaching consumers using radio -- and that makes it an efficient way for us to drive phone leads to businesses."
"Radio is a great way to drive local traffic, and Jambo is taking a unique approach by overlapping the new with the traditional -- bringing its Pay-Per-Call Collect solution to radio," said Dave Newmark, president and CEO of Bid4Spots. "This is truly the best of both worlds coming together. Jambo's category ads help smaller advertisers achieve consistency and frequency of message -- very important in radio -- while our system delivers the best rates available."
Jambo will place radio ads for categories of businesses -- starting with DIRECTV installers, mortgage lenders, and bankruptcy, personal injury and criminal lawyers -- encouraging consumers to call local phone numbers to get in touch with a local merchant. Jambo cycles through relevant matches until the consumer is connected with a local merchant who wants that business -- which he indicates by accepting the charges for the call.
Advertisers can choose at that moment whether or not to accept the charges on a pay-per-call basis. Those charges appear on the merchant's regular phone bill. Advertisers only pay when they receive calls -- not for the advertising itself. While Bid4Spots itself is not pay-for-performance, Jambo's use of the system provides advertisers with true pay-per-call functionality.
Launched in September 2005, Bid4Spots transforms the often ineffective process of buying and selling remnant airtime with the industry's first online patent-pending reverse auction. For advertisers, the Bid4Spots solution makes radio advertising more accessible, cost-effective and easier to manage. It requires no minimum expenditure or ad contract. In a departure for remnant sales, advertisers are able to specify market, daypart, demographic and station format; their spots are guaranteed to run according to their specifications -- no pre-empting is allowed.
Los Angeles-based Jambo (www.jambo.com) is the first pay-per-call provider to offer a comprehensive solution for the local space -- making it easy for merchants to acquire new customers, for consumers to find relevant local businesses, and for publishers -- both online and offline -- to increase revenues. With its patent-pending Pay-Per-Call Collect(TM) capability, Jambo is the first to enable pay-per-call billing via an advertiser's standard phone bill. Jambo's suite of solutions also includes a sales methodology, called the Embedded Sale, which is delivered as a fully managed sales channel to publishers, and a method for evaluating business listings to ensure value for consumers. Jambo was founded by a team of seasoned telecom professionals, entrepreneurs, and technologists.
Based in Encino, Calif., Bid4Spots transforms the often ineffective process of buying and selling last-minute radio spots -- also known as "remnant" airtime -- with the industry's first CPM-based reverse auction. Created by ad agency veteran Dave Newmark, Bid4Spots leverages the Internet to offer a flexible, fast solution that increases radio stations' revenues by helping them leave no daypart unsold, while broadening access to radio airtime for advertisers willing to forego the selection of specific stations and advance planning, in return for much lower ad rates.